Alan Sugar gives Labour £200k

Puts money where mouth is

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Alan Sugar has given £200,000 to the Labour party's election campaign.

The donation from the Amstrad chairman, formerly a staunch Tory supporter, was announced by Labour HQ today.

"As a businessman at election time, it is essential to me to support a party whose proposed economic policies are most beneficial for the country as a whole," said Sugar.

"I was a tremendous supporter of Margaret Thatcher. However, after her departure the Conservatives lost their way."

Sugar has been shelling out to Labour since 1997, and was one of the 58 business leaders involved in the letter sent to The Times last week to try and rally support for the party among the business community.

"It is just not good enough to support in principle; one has to ensure the party you want to run the country is given enough opportunity to achieve victory," he added.

The Conservatives today also set about polishing up their battle plan by publishing their own list of supporters from the business world. Signatories of the letter, sent to the Daily Telegraph, included Dixons CEO Sir Stanley Kalms. ®